Nifty, Sensex Witness Side-Ways Move
Suparna / 11 Feb 2014
Sectoral indices closed on a mix note with IT and Auto being the outperformer of the day. The markets witnessed pull back provided by major players like HCL and Tata Motors who gained 4% and 2.5% on the bourses today.
The Indian markets witnessed a mildly positive scenario in today’s session, owing to a narrow trade range. Auto and IT were the performers of today’s session. The Nifty closed on positive note up by 9 points at 6062 and Sensex was 29 points higher at 20363.
The advance-decline ratio on NSE was negative as the day ended with 1564 shares in green and 1700 shares in the red zone.
Top Nifty Gainers: HCL Tech gained 4% in today’s trade, followed by Ranbaxy Labs, Tata Motors, Tata Steel and JP Associates.
Top Nifty Losers: NTPC closed the day lower by 2.26%, followed by Hindalco, Reliance, PNB and Hero Motocorp.
The sectoral indices closed on mixed note. Auto and IT was the outperformer of the day up by 90 points. Bankex and Metals witnessed upward move by of 40 points each, Mid-Caps and Small Caps also saw some minute upward moves. However Health Care and Oil & Gas were down around 40 points each.
On the Asian markets front, the Nikkei market closed in positive territory, up by 255 points. Hang Seng closed on positive note up by 383 points. Strait Times, Shanghai Composite and KOSPI closed on the positive side.
Buzzer: Tata Motors gained more than 2.5% on the bourses today and closed above the technical level of Rs 2.8. If the stock remains above this level, it may touch the Rs 1473 mark in the next few sessions.
Nifty Futures consolidated in small range which was 6070-6090. Tomorrow’s opening will decide further moves.
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